Uk Oil & Gas Share Discussion Threads

[thegrumpster] 21/3/2016 21:51

Hadn't seen this one:




Thought it held next to no water?

[moneymunch] 21/3/2016 19:53

Truly stunning and transformational potential, more good news coming and a sudden and significant re-rating more than likely imho, and lots of new money on its way to push the share price higher when this year's ISA kicks in. Ukog's near, medium and long term future looks nailed on, as they develop and transform from small cap explorer to Major UK Oil Producer. Gla longs ;-)

[jlondon] 21/3/2016 18:27

In response to the broker comments, unfortunately, unless one is regulated and qualified, one is not allowed to so calculate. Someone rang the FSA and the 1st thing they asked was, What did the broker say.

In any comment, there is a standard method of calculation/s and in detailed notes, there will be the details.

I was not aware that whoever broker, they do not use cals with backup no*s. I think that there is other rules also.

[jlondon] 21/3/2016 18:08

An article by Interactive Investors has come out on UKOG, 21.3.2016

They interview WH Ireland who said "Potential commercial reality Reservoir pressure remained strong thru 3 tests. Stable rate can be even higher with a large capacity downhole pump in the next round of tests.

Co broker thinks the shares are WORTH more than previously thought."

WH Ireland has upgraded a re-iteration buy to 7.5p from 5p. [an uplift of 50% from 5p last target and some 200% upside from current levels. WH Ireland looks forward to production tests.

21 Mar 2016 Pls check.

[robbie1424] 21/3/2016 18:00

Sanderson said: “These results cause us to rethink and recalibrate many prior geological assumptions.

I am bang on the money here as ive been saying for a long time.

I know why they are having to re-think the geology of the weald too:0)

They can take this share price where ever they like.

Those TOC readings were higher than normal!!!

[c31161] 21/3/2016 17:01

The Gatwick Gusher has produced the highest flow rates of any onshore wildcat well in the UK matching the kind of levels normally seen in the North Sea, its majority owner UK Oil & Gas said today.The exploration company said it had completed its final test at Horse Hill, just north of Gatwick Airport, and that the aggregate flow from three layers of oil-bearing rock had been 1,688 barrels per day. "The flow test results are outstanding, demonstrating North Sea-like oil rates from an onshore well," said UKOG executive chairman Steve Sanderson. "This simple vertical well has achieved an impressive aggregate oil rate equivalent to 8.5% of total UK onshore daily oil production.""We are delighted, therefore, that this discovery has the serious prospect of being a meaningful addition to the UK's own supply of oil in a period where North Sea production is declining more rapidly than expected."He said that the final tests, from the Portland sandstone level, had actually been limited because they hit the well pump's maximum capacity limit.He also said that planned future drilling horizontally rather than just vertically could also significantly increase the rate of flow. UKOG said it had commissioned Nutech and Xodus, oil engineering consultants, to provide estimates of how much oil may be recoverable from the reservoirs.Previous studies have suggested that there are reserves of around 10 billion barrels under Horse Hill. Sanderson said: "These results cause us to rethink and recalibrate many prior geological assumptions."Nutech will now reinvestigate the presence of significant natural fracturing and oil in place figures for both the Portland and Kimmeridge units given that all flow periods produced 100% dry oil."During the tests the Horse Hill well delivered 1,940 barrels of so-called "light sweet oil" to Esso's Fawley refinery.Shares in UKOG and its associated investors in Horse Hill, Solo Oil, Alba Mineral Resources, Doriemus, Evocutis, Regency Mines and Stellar Resources, mainly dropped slightly on today's news.UKOG shares, which hit 4.75p at the peak of Gatwick Gusher excitement a year ago, were unchanged at 2.4p.More about: Gatwick oil find 9

[jlondon] 21/3/2016 16:50

Neil Ritson has done an interview with Proactive Investors.

A lot of interesting things he has to say.

Of point is that there may be 1 more well at Portland if I heard correctly.

Also, he said the cost for the 4-5 weeks of flow testing etc came to £1 million and that it was money well spent.
[So UKOG share is £200k but I am not sure how the other component of MPET is carried by the partners of HHDL?]

Mr Ritson also said that the Portland could go HIGHER ie flow. Pumping is normal for the Portland he said.

In addition, he said they have to go back to Nutech & Schlumberger [the latter is new news] to get comment.

Lastly, he said it was an exception well, set records in all zones. Kimm tested successfully-highest rate. For longer term, it would need a horizontal well.

21 Mar 2016 -Pl check as the sound is not loud.

[janekane] 21/3/2016 16:43

Thanks 12bn I need to use the spell check but am to lazy

[12bn] 21/3/2016 16:41

Quite right janekane (but it is 'process' not 'prosses',just trying to help). :)

[janekane] 21/3/2016 16:36

The moneymen love this the penny dreadfull buyers keep piling in with instant losses and the moneymen keep selling shares they don't have in the knowledge that when its dropped to 1.5 p there will be that many sells it will cover their position and it starts over again a slice rise to 1.75 will bring in buyers buying millions at a premium 1.75,,,,1.95p then bingo the market men run out of stock and start selling millions again then the share price is again forced down to 1.25p making them millions and the whole process begins again
Carry on buying mugs the moneymen love you

[12bn] 21/3/2016 16:11

Sorry Andy but as you have been posting on PHRM for years I presumed you bought in years ago. What exactly is your average in PHRM, several £s I guess and they are suspended now at 1p,fact. I only mention your investing prowess so that PIs that don't know you will have a better idea of how to judge you here. Do have a nice day. :)

[jlondon] 21/3/2016 16:08

Each time an RNS comes out, there is a mushroom that will pop up on Twitter & today takes the cake with suggestion of 1p. [Well known]

Meanwhile, on another board, the coin is beginning to drop ie 88e mkt cap £105million vs £51million [later UKOG]. This chap said 88e has not even flow tested yet.

If just BEFORE drilling Horse Hill, the share price of UKOG did not touch 1p, then questions will be asked how this can be so.

Andrew Bell*s audio interview said that the figures come from INDEPENDENT experts ie Nutech etc.

Interesting to see what happens next. Maybe, shareholders will actively
provide a robust representation as it was the case sometime ago with another stock.

21 Mar 2016 -Updated RNS from UKOG- 3 zones flow test

[andy pipkin] 21/3/2016 16:02

12iq

Only you continually state I bought phrm at £35. Like all of your statements, it is completely devoid of factual content.

[12bn] 21/3/2016 16:01

Oh dear,didn't you buy into PHRM at £35 a share Andy and it got suspended recently at 1p! This is not a good sign,one Jonah called Datait is bad enough but with 2 Jonahs on board then this ship is sure to sink! (Just as well Andys idea of buying big is a £100 worth of shares).

[forwood] 21/3/2016 15:58

Kenbos - it is great news but almost every news release has been sold off this past 6 weeks. I find it perplexing because the news keep getting better in my view but given the news is being sold, you'd think people would sell beforehand and get the better price - or do they think it's going to bounce more than it actually does?

The company's news and resources - and they are considerably more than just this one well (see header) - needs to go mainstream. In due course it will go mainstream and assuming PoO increases or doesn't go below the economics here, I can see the price increasing 30x or more. That is really not unreasonable given the potential of what's in the ground now. With Brent oil at $40, the probability before these flow rates were established was 90% that they had recoverable oil worth £57 bn. That is likely to improve - certainly will here at HH, and will reduce the probabilities on the other Weald assets. Now Brent is $41.5, so that is even more.

I don't agree that the price will drift and consolidate lower. It's a bit of self fulfilling prophecy atm but one the weak holders have gone it should improve. There is plenty of newsflow still to come.

For reasons stated several times in the past (see news 10/6/15) I don't see a placing any time soon at the same or cheaper than they did before they actually found oil. Besides they have recently raised a few £100k from the exercise of warrants.

Newcomers to the share need to do their homework!

[andy pipkin] 21/3/2016 15:56

This looks excellent. I have bought in here today, in siiiiiiiiiiiiiiiiize.

[12bn] 21/3/2016 15:45

With only £5m in the bank and a strong rise in the share price over the last month or so,I would have to agree with you Alphapig.

[alphapig] 21/3/2016 15:34

Quite a few 1mil plus sells, probably a placing 50 - 100mil shares raising £1mil to £2mil @2p. Just my take.

[beebong1] 21/3/2016 15:28

www.fool.co.uk/investing/2016/03/21/do-todays-updates-make-xcite-energy-limited-uk-oil-gas-investments-plc-and-bahamas-petroleum-company-plc-must-have-buys/

Long-term potential
Also releasing news today was UK Oil & Gas (LSE: UKOG), with the final Horse Hill Portland test flowing at a stable dry oil rate of 323 barrels of oil per day (bopd). This is double the previously reported rate. When taken into account it means the final aggregate stable dry oil flow rate from the two Kimmeridge limestones, plus the overlying Portland sandstone, stands at 1688 bopd, which is higher than the previous flow rate of 1528 bopd.

Given these impressive results, Nutech will investigate a possible upgrade to the oil in place calculated within all three test zones, with engineering studies to examine possible flow rates from a horizontal well. And with UKOG owning a 20% stake in the project, it seems to be in a strong position to benefit from the asset’s potential over the long run. The company’s chairman said today that the flow test results have demonstrated North Sea-like oil rates from an onshore well.

Clearly UKOG remains a relatively high-risk play that’s highly dependent on not only near-term news flow but also the price of oil. As such, it may only be of interest to less risk-averse investors, although it continues to benefit from rising investor sentiment, which has helped to treble its share price in the last year.


IMO, oil in the ground doing nothing is why the share price is where it is.

[kenbos] 21/3/2016 15:06

I'm pretty new to this but I've read the news release and it sounds like great news ? So why the fall in price ?

[big7ime] 21/3/2016 14:53

Is it the D Lenigas factor that's keeping the share price down.